Streaming measurement company Antenna raises $10 million

Antenna, a streaming measurement company, has raised a $10 million Series A round led by Bertelsmann Digital Media Investments (BDMI), a subsidiary of the global media and education company Bertelsmann.

Why it matters: The streaming boom during the pandemic has expedited the transition to alternative measurement sources, creating opportunities for new digital measurement companies.

Details: Several firms, including Grit Capital, Hyper, Imagination Capital, SK Ventures, Waverley Capital, and UTA Ventures joined the investment. New individual investors, as well as existing investors, like Raine Ventures, also participated.

• The company plans to continue building app measurement and analysis capabilities across different subscription sectors, including video, audio, gaming, health and wellness, education, apparel and others, per its co-founder and CEO Jonathan Carson.
• It also plans to use the new cash to grow headcount and enrich its data.

The big picture: Antenna has made a name for itself in the media measurement space, providing authoritative data about the subscription video economy.

• Antenna co-founder and president Rameez Tase noted that subscription marketers care most about acquiring customers, getting them to spend more and preventing them from cancelling. Antenna's data offer those insights.
• Since launching in February 2020, Antenna has established a strong brand in the video space. The company aims to use the capital in order to grow headcount, expand coverage and enrich data in order to replicate its success across a multitude of subscription categories.

Editor's note: Tase is a former employee of Axios.